Why now is a good time for a hardware refresh

Posted on: July 14th, 2020 onPlatinum

Using outdated technology and hardware can have a variety of direct and indirect costs, affecting your productivity and cash flow. But making sure your equipment is current can be a daunting task for many small businesses. Keep reading to find out why now is an excellent time for a hardware refresh.

Outdated technology is a security risk

Outdated technology can leave your business exposed to an abundance of security risks and breaches. Cyber attackers penetrate through bugs in operating systems, which companies patch with software updates. If you are using old hardware, chances are you are no longer receiving these vital security patches to keep your business and its data secure.

Boost productivity

Old hardware can be a real drain on productivity. Have you considered the costs that downtime has on your business? You don’t want to leave your employees twiddling their thumbs or losing critical data because their hardware crashes or runs slow.

Reach and retain young talent

Millennials make up around 35% of the workforce currently, and experts predict this will rise significantly in the next five years (PwC, 2019). They have grown up with technology and value a workplace that surrounds them with modern technology. To retain young talent, you need to refresh your hardware and technology to support collaboration and flexible working. Millennials place a high value on employee satisfaction (Allianz, 2015) and work/life balance, and aren’t afraid to leave if they are unhappy.

Take advantage of the instant asset write-off scheme

When purchasing new hardware, you can take advantage of the government’s instant asset write-off scheme. This has recently been increased and extended to help more businesses following COVID-19 and to boost cash flow. Until the end of 2020, businesses can deduct the cost of purchases up to $150,000 from their tax in the financial year the asset is purchased. Find out more here.

Don’t get left behind because you are using old and outdated hardware in your business. Now is a great time to refresh your hardware, boosting productivity, employee satisfaction and reducing security risk. Contact the team at onPlatinum today to discuss your technology and hardware.